Synopses & Reviews
Financial Accounting, 6th, is designed to prepare users to succeed as future business managers. The text demonstrates how financial statements are useful and interesting tools for diagnosing a company's problems or strengths, and for making loan, investment, acquisition, employment, and political decisions. The sixth edition interweaves analytical principles with real examples and real data from well-known companies. This text takes a business-activities approach to link accounting to what a business really does & operating, investing and financing. The result provides students with the practical skills they need to understand complex business issues and make smart strategic decisions.
About the Author
Earl K. Stice is the PricewaterhouseCoopers Professor of Accounting in the School of Accountancy and Information Systems at Brigham Young University where he has been on the faculty since 1998. He holds bachelor's and master's degrees from Brigham Young University and a Ph.D. from Cornell University. Dr. Stice has taught at Rice University, the University of Arizona, Cornell University, and the Hong Kong University of Science and Technology (HKUST). He won the Phi Beta Kappa teaching award at Rice University and was twice selected as one of the ten best lecturers on campus at HKUST. Dr. Stice has also taught in a variety of executive education and corporate training programs in the United States, Hong Kong, and South Africa, and he is currently on the executive MBA faculty of the China Europe International Business School in Shanghai. He has published papers in the Journal of Financial and Quantitative Analysis, The Accounting Review, Review of Accounting Studies, and Issues in Accounting Education, and his research on stock splits has been cited in Business Week, Money, and Forbes. Dr. Stice has presented his research results at seminars in the United States, Finland, Taiwan, Australia, and Hong Kong. He has co-authored several accounting texts. Dr. Stice and his wife, Ramona, have seven children: Derrald, Han, Ryan Marie, Lorien, Lily, Taraz, and Kamila.James D. Stice is the Distinguished Teaching Professor in the Marriott School of Management at Brigham Young University. He is currently the Director of the Marriott School's MBA Program. He holds bachelors and master's degrees from BYU and a Ph.D. from the University of Washington, all in accounting. Professor Stice has been on the faculty at BYU since 1988. During that time, he has been selected by graduating accounting students as "Teacher of the Year" on numerous occasions, he was selected by his peers in the Marriott School at BYU to receive the "Outstanding Teaching Award" in 1995, and in 1999 he was selected by the University to receive its highest teaching award, the Maeser Excellence in Teaching Award. Professor Stice is also a visiting professor for INSEAD's MBA Program in France. Professor Stice has published articles in The Journal of Accounting Research, The Accounting Review, Decision Sciences, Issues in Accounting Education, The CPA Journal, and other academic and professional journals. In addition to this textbook, he has published two other textbooks: Financial Accounting: Reporting and Analysis, and Accounting: Concepts and Applications. In addition to his teaching and research, Dr. Stice has been involved in executive education for such companies as IBM, Bank of America, and ErnstandYoung and currently serves on the board of directors of Nutraceutical Corporation. Dr. Stice and his wife, Kaye, have seven children: Crystal, J.D., Ashley, Whitney, Kara, Skyler, and Cierra.Michael A. Diamond serves as Vice President and Executive Vice Provost of the University of Southern California. Prior to that, Dr. Diamond served as Vice Provost for Planning and Budget, as dean of the Leventhal School of Accounting, and director of the school's SEC and Financial Reporting Institute. During that period, the Leventhal School of Accounting was consistently ranked as one of the top five accounting programs in the country.
Dr. Diamond is a leader in the accounting education reform movement. He has lectured throughout the United States, Europe and Asia on business and accounting education innovation. His articles have appeared in the Harvard Business Review, Accounting Horizons and the Journal of Accounting. Over the last five years, Dr. Diamond has turned his attention to issues of academic leadership and change. He has published in Change and co-authored two monographs on academic leadership.
Dr. Diamond has served as president of the American Accounting Association, taught at California State University, Los Angeles, and has been a visiting professor at the University of California, Berkeley and the University of California, Los Angeles. He also has taught in executive education programs for a number of international accounting firms as well as Fortune 500 companies. Dr. Diamond is the recipient of the California Society of CPAs Faculty Excellence Award for 1993 and was named as one of the "Top100 Most Influential People in Accounting" in both the fall 1997 and 1998 issues of Accounting Today.
With Michael Moore, Dr. Diamond developed the Strategic Planning Partnership, an initiative of the ErnstandYoung Foundation. This program assists selected business schools and other academic organizations in strategic planning and change management processes.
Dr. Diamond received his BA degree at the University of California, Berkeley, and his MS and Ph.D. degrees from the University of California, Los Angeles.
Table of Contents
Part 1 Introduction to Financial Statements 1 The Nature and Purpose of Financial Accounting 2 Overview of the Financial Statements 3 Introduction to Financial Statement Analysis 4 The Balance Sheet 5 The Income Statement 6 The Statement of Cash Flows Case 1 IBM Part 2 The Accounting Information System 7 The Accounting Information System Part 3 Operating Decisions 8 Revenue Cycle: Sales, Receivables, and Cash 9 Cost of Goods Sold and Inventory 10 Expenditure Cycle: Other Operating Items Case 2 ProcterandGamble Part 4 Investing Decisions 11 Investments in Operating Assets 12 Investments in Securities Case 3 Intel Part 5 Financing Decisions 13 Financing with Debt 14 Financing with Equity Case 4 AT&T Part 6 Additional Reporting and Analysis 15 Accounting in a Global Market 16 Issues in Financial Statement Interpretation: Changing Prices and Alternative Accounting Methods Case 5 Coca-Cola